Modell zur Förderung des Wettbewerbs und der Transparenz auf dem Ratingmarkt unter Berücksichtigung der Besonderheiten der deutschen Bankenstruktur

This paper provides a model for the international market of credit ratings in order to promote transparency of rating methodologies and combat the oligopolistic market structure where Standard & Poor‘s, Moody‘s and Fitch Ratings collectively comprise approximately 85 percent of the market. For the German credit market this paper strongly advises the establishment of at least three centralistic credit rating agencies (CRAs), set up and run independently by the large bank institutions – „Großbanken“, „Sparkassen“ and „Genossenschaftsbanken“. By acting as CRAs, universal banks could not only decrease their costs but would also be able to increase competition and transparency. These new credit rating agencies would be subject to the Basel II internal ratings-based (IRB) surveillance standards that go far beyond the Basel II standard approach with its external ratings by the dominating three US-american CRAs. Due to the fact that the new Basle Accord has already been implemented in Europe, this model could be applied all over Europe and possibly even worldwide, assuming the US were to adopt the new capital adequacy rules. This would lead to an increase in the number of CRAs and hence to more competition, as the barriers to entry in the rating industry would not apply to these new institutions because of their expertise in the credit market. The fact that the IRB-criteria already have to be disclosed by law would make the methodologies transparent and subject to approval by national regulators such as the „Bundesanstalt für Finanzdienstleistungsaufsicht“ (BaFin) in Germany. Hence the requirement to set up a new monitoring committee in Europe would become obsolete.

Survey of Agricultural Practices and Alternatives to Pesticide Use to Conserve Water Resources in the Mojanda Watershed, Ecuador

Agriculture in the Mojanda Watershed is facing rainfall reductions caused by climate change. Reductions of water availability in the Watershed are also due to constant extension of the agricultural activities into the páramo ecosystem above 3000m a.s.l., with this ecosystem having immanently important functions in the local water balance. The application of pesticides threatens the quality of water and with less precipitation contaminations will further concentrate in the outflow. To analyze problems associated with agricultural practices in the area a questionnaire about agricultural practices (28) was conducted and fields (20) were surveyed for pests and diseases with a focus on potatoes (Solanum tuberosum L.), tree tomatoes (Solanum betaceum Cav.) and peas (Pisum sativum L.). Potatoes were infected to a low degree with Phytophthora infestans and according to the farmers the Andean potato weevil (Premnotrypes spec.) caused biggest losses. To combat the weevil the soils are disinfected with toxic Carbofuran (WHO Class 1B). Tree tomatoes showed symptoms of various fungal diseases. Most important was Fusarium solani causing the branches to rot and Anthracnosis (Colletotrichum gloeosporioides) causing the fruits to rot. Fungicide applications were correspondingly high. Peas were only minorly affected by Ascochyta blight (Mycosphaerella pinodes) and a root rot. Overall 19 active ingredients were applied of which fungicide Mancozeb (WHO class table 5) and insecticide Carbofuran (WHO Class 1B) were applied the most. Approved IPM methods are advised to reduce pesticide use. For tree tomatoes regular cutting of branches infected with F. solani and regular collection and disposal of infected fruits with Anthracnosis are advised. For potatoes plastic barriers around the fields prevent the Andean potato weevil from laying eggs thus reducing infestation with the larvae in the tubers. Local bioinsecticide “Biol” seems effective and without harm to the environment, although not used by many farmers. Organic fertilization promises to restore decreasing soil fertility, water holding capacity and reduce erosion. The here presented alternatives and strategies to reduce pesticide use pose an opportunity to preserve the water resources of the region.